Postby The_Honourable » June 20th, 2018, 6:42 pm
- You can purchase on coinbase if you are outside T&T, Coinmama for me with my credit card in T&T, or localbitcoins if you want to use TT cash for bitcoins.
- Once you do your transaction, your bitcoins (BTC) will be stored in a "wallet" on your account. Usually after this, many send their btc to an exchange where they purchase different cryptos or "alt coins" such as Litecoin, Ripple, Ethereum, etc. Others just buy btc and keep.
- It is recommended to have a hardware wallet to store your btc (and other cryptos) as hacking of accounts and exchanges have increased. They call this "cold storage". It's like an external hard drive or flash drive storing your data that is not connected to the net so you would not get hacked BUT the device must be protected physically at all times. Don't abuse it like how some treat their flash drives. I use the Ledger Nano S.
- Now is a good time to buy some BTC but remember this is a new market and purely speculative right now. Money WILL be made in crypto but the ride is going to be turbulent (which is an understatement). Many coins will go to zero while others "going to the moon".
- It's recommended to purchase 200 - 400US for small purchases and $500 - 1000US for large purchases where these purchases are done evenly across a portfolio. If you are investing in something and you are sweating when the markets are turbulent, you invested too much. Don't end up like some who watches the market every day.
- DO NOT let people know you have a crypto portfolio and DO NOT give away your private key plus recovery options. When the crypto markets go up, you will be a target ranging from real people want to friends all on of a sudden to people actually stealing your cryptos either through hacking or taking your hardware wallet.
You can PM me is you want more tips.
Bitcoin Virginity
